In this paper we revisit an economic model of Buhlmann (ASTIN Bulletin, 1980) and derive equilibrium pricing transforms. We show that the Esscher Transform and the Wang Transform exhibit very different behaviors when used in pricing insurance risks.

This paper presents a universal framework for pricing financial and insurance risks. Examples are given for pricing contingent payoffs, where the underlying asset or liability can be either traded or not traded...

This paper presents a universal framework for pricing financial andinsurance risks. Examples are given for pricing contingent payoffs, wherethe underlying asset or loss can be either traded or not traded....

The purpose of this paper is to build a modeling and pricing framework to investigate the sustainability of the Home Equity Conversion Mortgage (HECM) program in the United States under realistic economic scenarios, i.e., whether the premium payments cover the fair premiums for the inherent...